2 Oct 2006

Vanuatu's economy in good shape

12:08 pm on 2 October 2006

The economy in Vanuatu is in a mini boom according to the Reserve and commercial banks.

The Minister of Finance, Willy Jimmy, has confirmed that the government finances are in excellent shape and budgets are being met in revenue collection.

The Deputy Governor of the Reserve Bank, Peter Tari, told the Vanuatu Daily Post that Vanuatu's economy is expected to grow by 3.9% in 2006 and up to 4.3% in 2007.

He says this was particularly encouraging given two years of contraction in 2001 and 2002 before a turnaround in 2003.